5G Network Security Market Size, Share, Opportunities, And Trends By Form Factor (Physical, Virtual, SaaS), By Type (Firewall, SSE, SWG, WAF, Others), By Industry (Banking, Telecommunications, Government, Manufacturing, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Aug 2023
- Report Code : KSI061615194
- Pages : 132
The global 5G network security market is projected to grow at a CAGR of 41.82% to grow to US$16.159 billion by 2028, increasing from US$1.986 billion in 2022.
The demand for network security has surged owing to the expansion of 5G technology. An emerging need for a safe and secure network can be witnessed due to increased internet usage across the globe. For instance, according to the world bank, the number of individuals using the Internet has drastically increased from just 46% in 2017 to 60% in 2020.
Hence, the growing internet penetration requires the 5G technology to be designed to allow its security controls to address the present world’s cyber threats.
- Growing Investments in Network Security
Telecom networks are evolving quickly in a wide-ranging technological environment that includes virtualization, disaggregation, cloud, AI, IoT, and Industry 4.0. Therefore, an equally broad yet more difficult cybersecurity environment exists to address it. Furthermore, with the growing emergence of 5G technology, fraudsters may use several kinds of organizational vulnerabilities and security risks to access or corrupt company data. Hence, due to the high risk of cyberattacks or cybercrimes, market players and governments can observe various legitimate measures. For instance, in December 2022, in India, it was announced by the managing director of a cybersecurity risk management firm that Indian telecom operators such as Bharti Airtel, Reliance JIO, and Vodafone are expected to increase 25-30% of their IT budget to network security to secure the network on the backend as well as monitor the consumer’s data flow.
- Increased Application Across Industry Verticals/Sectors
The emergence of the 5G network greatly impacts various sectors. Industries such as banking, healthcare providers, energy, media, telecommunications, and government institutions have sensitive and critical data, hence prone to cyberattacks. For instance, the number of cyberattacks against India's government sector increased by 95% in the second half of 2022 compared to the same period in 2021, according to data from CloudSEK, a contextual AI firm that forecasts cyber threats. Consequently, as the 5G technology emerges, it becomes necessary for industries and government organizations to protect their data by undertaking security measures.
EMERGING OPPORTUNITIES IN THE GLOBAL 5G NETWORK SECURITY MARKET
Software as a Service (SaaS) is among the fastest-growing segments as it secures crucial corporate and user data in a subscription-based cloud application. SaaS tools operate in the cloud, where new security issues, such as phishing attacks and exposure to new malware, are present. Such viruses can expose client data. However, companies can secure these cloud-based programs with suitable SaaS Security tools.
Furthermore, owing to its growing demand, various business measures can be witnessed by the market players. For instance,
As a result of the advanced rollout of 5G services, Nokia announced the launch of two new Software-as-a-Service (SaaS) services in the areas of security and analytics. The initiative has been taken as part of its strategy to provide communication service providers (CSPs) and businesses with a more flexible and affordable way of serving customers, operating, and monetizing their networks.
Aqua Security, a leading pure-play cloud-native security provider, announced a unique and comprehensive security tool developed to safeguard cloud-native applications and prevent cloud-native attacks. The company launched the SaaS solution in Europe.
By type, network security is divided into firewall, SSE, SWG, WAF, and others.
The firewall segment is expected to hold a notable market share in 2028. This is because of the growing prevalence of 5G technology. has complemented the growing advancements in Artificial Intelligence and IoT, and hence shifted the company toward a data-driven environment, thereby increasing the demand for network security provisions such as firewalls. Some latest advancements in the firewall segment include:
With the help of its containerized firewalls, real-time correlation of threats to 5G users and devices, and 5G network slice security, Palo Alto Networks revealed the expansion of its new 5G security capabilities to enterprises and service providers.
With the emergence of 5G globally, the demand for network security has also been increasing. The global 5G network security market consists of some major countries undertaking various measures to secure their 5G network across their respective nations. Some major countries include the USA, Japan, South Korea, China, and Germany. The countries have undertaken various measures, complementing the overall market growth. For instance,
- In October 2020, an international service provider, Telefónica Spain, and Juniper Networks collaborated to secure the mobile backhaul of its expanding 5G network. The provider needed to ensure that all traffic is secure and its infrastructure is protected as Telefónica expanded its 5G network throughout Spain.
MAJOR PLAYERS IN THE MARKET
Some of the leading players in the market include Fortinet, Palo Alto Networks, and Nokia, among others. These firms have undertaken various business strategies such as product launches, investments, and partnerships to expand their product offerings. For instance,
- In October 2021, Palo Alto Networks and IBM Corporation allied to assist the operators in developing secure 5G networks. The firms unveiled integrated security solutions and services. This cooperation covers control plane security, security for containers and VNFs, and security for multifunction network devices.
5G Network Security Market Scope:
|Market Size Value in 2022||US$1.986 billion|
|Market Size Value in 2028||US$16.159 billion|
|Growth Rate||CAGR of 41.82% from 2022 to 2028|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Form Factor, Type, Industry, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Nokia Corporation, Palo Alto Networks, F5, Inc., Fortinet, Mobileum Inc., SecurityGen, AT&T Inc.|
|Customization Scope||Free report customization with purchase|
The global 5G network security market has been analyzed through the following segments:
- By Form Factor
- By Type
- By Industry
- By Geography
- United States
- Europe, the Middle East, and Africa
- Asia Pacific
- South Korea
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Bandwidth Availability
4.4. Number of Users
5. GOVERNMENT REGULATIONS/POLICIES
6. 5G NETWORK SECURITY MARKET, BY FORM FACTOR
7. 5G NETWORK SECURITY MARKET, BY TYPE
8. 5G NETWORK SECURITY MARKET, BY INDUSTRY
9. 5G NETWORK SECURITY MARKET, BY GEOGRAPHY
9.2.1. United States
9.3. Europe, Middle East, and Africa
9.4. Asia Pacific
9.4.3. South Korea
10. RECENT DEVELOPMENT AND INVESTMENTS
11. COMPETITIVE ENVIRONMENT AND ANALYSIS
11.1. Major Players and Strategy Analysis
11.2. Vendor Competitiveness Matrix
12. COMPANY PROFILES
12.1. Nokia Corporation
12.2. Palo Alto Networks
12.3. F5, Inc.
12.5. Mobileum Inc.
12.7. AT&T Inc.
Palo Alto Networks
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